SPX Corp. looking to sell power business lines
USA, North Carolina: SPX Corp. plans to sell its European power generation operations as weak segments of its power business continue to undermine strong performance in its other business divisions.
CEO Gene Lowe told analysts that SPX’s transformer segment in power remains strong, reports Charlotte Business Journal.
To support the company’s financial performance, SPX is actively marketing its European power operations.
The company also expects to spend $6 million this year restructuring other under-performing power businesses in the United States.
Source: Charlotte Business Journal